Jul 13, 2022
In Welcome to the Forum
What Is The Role Of Digitalisation In Business Growth? Digitalization is when you use digital technologies to change a business model and provide new revenue and value-producing opportunities. Digitalizing your organization can give you a competitive advantage by doing things better, faster, and cheaper than your competition. Using creative digital solutions gives you a Real Estate Photo Editing competitive edge in your business world and a proper digitalization plan can help reinvent processes, improve quality and promote consistency. Gone are the days of direct sales. Hail the era of indirect sales. There are many reasons why companies are making this change: Save Cost Global Reach Customer interaction Conversion Achieve their mission and vision And being at par or ahead of their competitors Benefits Of Digitalisation Digital solutions can simplify a country’s security and intelligence systems, and its economy and infrastructure. For citizens, digitalization promises much-needed improvement both in the delivery of public services, such as Government/Bank issued certificates, and other services, financial or other consultancy services. Digital solutions and services can facilitate trades and settlement worldwide. Defend against malpractices such as embezzlement and money laundering. Digital platforms are connecting buyers and sellers directly, eliminating the middleman. Digital platforms are encouraging the youth. digitalisation-in-business-growth 3 Pillars that Support a Successful Digital Business 1. Market Insight Market insight combined with modern technology only gives the traditional/conventional form of market awareness or business understanding of a digital dimension. 2. Collaborative Leadership Team Combining insight and technology from the beginning serves to guide teams of business leaders and tech engineers to address the needs of the consumer. Once these foundations are laid, as with any business, these consumer demands need to be monitored and taken for the duration of the business's lifespan. A better understanding within the team will automatically attract more consumers. To cater to the demands of the consumer, the inside team should be able to analyze the requirements and also their own ability. 3. One or More Technological Platforms From a technological angle, digital businesses include one or more software platforms, using the best technology available to suit the company’s individual needs.